Jewellery retailer Joyalukkas has revealed it has secured AED 500M in funding from Emirates NBD to support its strategic expansion into international markets.
The funding agreement was formalised between John Paul Alukkas, Managing Director of Joyalukkas Group, and Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD.
“This funding will significantly bolster our bold expansion strategy,” said Alukkas. “We believe this collaboration will enable us to scale new heights and accomplish major milestones in our growth journey.”
With more than 170 showrooms worldwide, Joyalukkas intends to broaden its presence further throughout the GCC, India, Southeast Asia, the United Kingdom, and the United States.
The renowned jewellery brand has already launched five new showrooms during the first half of 2024 and aims to reach a total of 20 openings by year-end.
